April garment exports plummet

By Dat Nguyen   May 10, 2020 | 08:43 am GMT+7
April garment exports plummet
Workers manufacture garment products at a factory in the southern province of Long An. Photo by VnExpress/Quynh Tran.

Vietnam's garment and textile exports in April fell 20 percent year-on-year to $2.3 billion and could fall further as buyers cancel orders over Covid-19 pandemic impacts.

Data from the Vietnam Textile and Apparel Association (VITAS) showed that garment and textile exports in the first four months fell 6.6 percent year-on-year to $10.6 billion.

Material imports in the period fell 3 percent to $5.2 billion.

Truong Van Cam, deputy chairman of VITAS, said more dampening figures were expected as most of the canceled and delayed contracts were for May and June.

Never have export figures of many garment and textile items seen reduced growth as has happened this year, he said. "Exports of clothes, fiber and garment in the first four months fell by between 6 to 22 percent year-on-year."

Vietnam’s garment and textile industry, the country's third largest in terms of export value behind smartphones and computers, struggled to source materials from China in February due to the Covid-19 pandemic.

Starting March, producers also had difficulties selling to major markets such as E.U. and the U.S, which account for over 60 percent of total textile exports, as buyers canceled or delayed orders due to lower demand.

VITAS has forecast that in the worst case scenario, Vietnam’s garment and textile exports could fall by 23 percent to $30 billion this year.

 
 
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